Armenia declares electricity distributor's shares of overriding public interest

Armenia's government on October 15 declared all shares in Electric Networks of Armenia to be of overriding public interest, as part of preparations to transfer the utility into state ownership.

Territorial Administration and Infrastructure Minister Davit Khudatyan told the cabinet that owners would be notified within statutory deadlines. The deadline to initiate the process was set at May 1, 2027.

Prime Minister Nikol Pashinyan said management would be entrusted to an international company or group of companies after the utility became state property. No specific future operator was named.

The utility is owned by the family of Tashir Group head Samvel Karapetyan through Cyprus-registered Liormand Holdings Limited. Authorities had previously alleged mismanagement, which the company denied.